South Korea’s steelmaker POSCO, hiked its bid price for Japanese scrap yesterday, by JPY 2000/t, in comparison to the previous bids by major Korean steelmakers. Bids for Japanese HS and Shredded are set at JPY 29,000/t CFR and JPY 28,500/t CFR Korea respectively, equivalent to JPY 26,500/t ($ 247) and JPY 26,000/t ($ 243) FoB Japan, respectively. These bids put Japanese H2 price at JPY 24,000/t FoB Japan.
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